‘TAUGNG OAL HOC CONG NoHIEP TP. HO cH MINH KHOA KE TOAN KIEM TOAN HE THONG HOC TAP TRU'C TUYEN § 4 Dang Thi Nhu Ngoc ~ Nha ciia t6i > Cac khod hoc cila tdi > KE TOAN QUAN TR! 2 (HK1 / 2022-2023) > BAI KIEM TRA- QUIZ ONLINE > Exam 2 Bat dau vao lic Tuesday, 15 November 2022, 8:28 PM State Finished Két thuic lc Tuesday, 15 Novernber 2022, 8:47 PM Thai gian thy hién 19 phut 2 gidy Bigm 18,00/20,00 9,00 out of 10,00 (90%) Cau Hoi 1 bung Dat diém 1,00 trén 1,00 George has been asked by his bank to produce a budgeted income statement for the six months ending on 31 March 20X4. He forecasts that monthly sales will be £5,000 for October, £6,500 for each of November and December and £6,000 per month from January (20X4 onwards. Selling price is fixed to generate a margin on sales of 33, %. Overhead expenses (excluding depreciation) are estimated at £900 per month, He plans to purchase non - current assets on 1 October costing £10,000, which will be paid for at the end of December and are expected to have a five - year life, at the end of which they will possess a nil residual value The budgeted net profit for the six months ending 31 March 20X4 is Select one: a. £5,400 b. £6,600 £8,200 £5,600 /Cau Hoi 2 Dung Dat diém 1,00 trén 1,00 A company is preparing its production budget for product B for the forthcoming year. Budgeted sales of product B are 2,000 units. Opening inventory is 160 units and the company wants to raise inventories at the end of the year by 20%. The budgeted number of units of product A to be produced is Select one: a. 2,032 v b. 2,192 ©. 2,160 d. 2,000 Cau Hoi 3 Sai Bat diém 0,00 trén 1,00 Angle Ltd manufactures two products, Angle 1 and Angle 2. It intends to produce 1,500 units of each product in the next year to meet the sales budget. Each Angle 1 requires 4 kg of material Z and 1 kg of material Y and each Angle 2 requires 4 kg of material Z and 3 kg of material Y. ‘At present there are 200 kg of Z and 500 kg of ¥ in inventory. ‘Angle Ltd intends to increase the inventory levels of these materials by the end of the year to 600 kg of Z and 800 kg of Y. Material Z costs £3 per kg and material Y costs £2 per kg What is the total materials purchases for the next year? Select one: a. £46,200 b. £48,900 X c. £49,800 d. £46,400Cau Hoi 4 Dung Dat diém 1,00 trén 1,00 Which of the following expressions is correct? Select one: a, Production (in units) = Closing inventory - sales - opening inventory b. Production (in units) = Closing inventory + sales - opening inventory ¢. Production (in units) = Opening inventory + sales + closing inventory d. Production (in units) = Opening inventory + sales - closing inventory cau Hai 5 Bing Bat diém 1,00 wren 1,00 ‘A company’s master budget contains the following budgeted income statement. £ £ Sales revenue (5,000 units) 200,000 Variable materials cost Variable labor cost Variable overhead Fixed overhead Budgeted net profit The company’s management are considering a change in the materials specification. This would reduce the materials cost per unit by 10%. The reduced product quality would necessitate a 2% reduction in the selling price and the sales volume would fall by 5%. The revised budgeted net profit for the period would be Select one: 2, £53,025 b. £32,920 c. £34,920 £35,925.Cau Hoi 6 Dung Dat diém 1,00 trén 1,00 A company has recorded the following costs over the last six months. Month Total cost£ Units produced 1 75,200 3,400 2 72,500 2,500 3 74,000 3,000 4 68,600 1,200 5 70,400 1,800 6 73,000 2,800 Using the high - low method, which of the following represents the total cost ‘equation? Select one: a, Total cost = 61,250 + (1.25 x quantity) b, Total cost = 61,250 + (3 x quantity) ¢ Total cost = 65,000 + (3 x quantity) «/ d. Total cost = 65,000 + (1.25 x quantity)Cau Hoi 7 Dung Dat diém 1,00 trén 1,00 ‘At the beginning of March 20X2, a company has an opening balance of £80,000 on its receivables ledger. Sales of £200,000 have been budgeted for March and it is budgeted that 60% of these will be settled in March after a cash discount of 2.5%. If 30% of the opening receivables are still outstanding at the end of March, what will be the budgeted receivables figure at that date? Select one: a, £110,200 b. £108,200 £106,000 d. £104,000. Cau Hoi 8 Bung Dat diém 1,00 trén 1,00 You are given the following budgeted cost information for Princess plc for February. Sales £300,000 Unit selling price £5 Gross profit 40% margin sales Opening inventory 6,000 units Sales volumes are increasing at 20% per month and company policy is to maintain 10% of next month's sales volume as closing inventory. The budgeted cost of production for February is Select one: a, £180,000 b. £183,600 / ©. £122,400 d. £300,000Cau H6i 9 Dung Dat diém 1,00 trén 1,00 A company has recorded the following costs over the last six months Month Cost Production Units £ h 25,200 11,200 b 28,400 11,400 B [24,180 11,150 bs [22,600 11,020 5 18,200 800 lb [20,700 990 Using the high - low method, the expected cost of producing 1,390 units is Select one: a, £28,230. b. £26,700 © £31,622 . £28,197Cau Hoi 10 Dung Dat diém 1,00 trén 1,00 The following data have been extracted from the budget working papers of ABC Ltd. Production volume 2,000 3,000 E/unit E/unit Variable material 5.00 5.00 Variable labor 4.50 450 Production overhead- department 1 8.00 6.00 Production overhead - department 2 3.00 2.00 The total fixed cost and variable cost per unit is Select one: a, Total fixed cost 46,000 ;Variable cost per unit 9.50 b. Total fixed cost 18,000 ;Variable cost per unit 11.50. . Total fixed cost 46,000 Variable cost per unit 11.50 d. Total fixed cost 18,000 ;Variable cost per unit 2.00 Cau Héi 11 Dung —_Bat diém 1,00 trén 1,00 The master budget Select one: a. The cash budget b. The budgeted income statement .Sales budget d. The budgeted balance sheetCau Hoi 12 Dung Dat diém 1,00 trén 1,00 Mango Ltd purchases a chemical and refines it before onward sale, Budgeted sales of the refines chemical are as follows. Litres January 60,000 February 30,000 March 40,000 (1) The target month - end inventory of unrefined chemical is 20% of the chemical needed for the following month's budget production. (2) The targeted month - end inventory of refined chemical is 40% of next month's budgeted sales. Calculate the budgeted purchase of unrefined chemical for January. Select one: 2, 48,250 liters b. 49,750 liters 54,200 liters 4. 45,200 litersCau Hoi 13 Dung Dat diém 1,00 trén 1,00 Which of the following are Not considered to be objectives of budgeting? (1) Authorisation (2) Expansion (8) Performance evaluation (4) Resource allocation Select one: a.(2) only b. (4) only ©. (1), @) and (4) only d. (1), (2) and (3) onlyCau Hoi 14 Dung Dat diém 1,00 trén 1,00 ‘An extract from next year's budget for a manufacturing company is shown below. Month 5 Month 6 Closing inventory of raw materials £25,000 £45,000 The manufacturing cost of production is £462,000 in both Month 5 and Month 6. Materials, costs represent 60% of manufacturing cost. The budgeted material purchases for Month 6 are Select one: a, £257,200 b. £277,200 £322,200 4. £297,200. Cau Hei 15 Ding Dat aiém 1,00 wrén 1,00 ‘A company’s weekly costs (£ C) were plotted against production level (P) for the last SO weeks and regression line calculated to be C = 500 + 100 P. Which of the following statements about the breakdown of weekly costs is true? Select one: 2a. Fixed costs are £10. Variable costs per unit are £2. b. Fixed costs are £100, Variable costs per unit are £2. ¢. Fixed costs are £100, Variable costs per unit are £500. d. Fixed costs are £500. Variable costs per unit are £100.Cau Hi 16 Sai Bat diém 0,00 trén 1,00 You are given the following budgeted cost information for Queen plc for January. Sales £300,000 Unit selling price £5 Gross profit 30% margin sales Opening inventory 6,000 units Sales volumes are increasing at 20% per month and company policy is to maintain 10% of next month's sales volume as closing inventory. The budgeted cost of production for January is Select one: a, £306,000 b. £210,000 X £300,000 4. £214,200 Cau Hoi 17 Dung Dat diém 1,00 trén 1,00 ‘ABC company makes a gross profit of 20% on sales. The company plans to increase inventory by 20% in June. The budgeted sales revenue for June is £30,000. Opening inventory on 1 June is valued at £5,000. What are the budgeted inventory purchases for June? Select one: a, £23,000 b. £25,500 ©. £25,000 d. £29,000Cau Hoi 18 Dung Dat diém 1,00 trén 1,00 A retailing company makes a gross profit of 35% on sales. The company plans to decrease inventory by 20% in April. The budgeted sales revenue for April is £60,000. Opening inventory on 1 April is valued at £4,000. What are the budgeted inventory purchases for April? Select one: a, £39,800 b. £38,200. £60,800 d. £59,200 Cau Hei 19 Ding Bat digm 1,00 wrén 1,00 When preparing a material purchases budget, which of the following is the quality to be purchased? Select one: a. Opening inventory of materials - materials required for production - closing inventory of materials b. Materials required of production - opening inventory of materials - closing inventory of materials, ¢. Opening inventory of materials + closing inventory of materials - materials required for production d. Materials required for production - opening inventory of materials + closing inventory of materials, vCau Héi 20 Dung Dat diém 1,00 trén 1,00 A company is preparing its production budget for product A for the forthcoming year. Budgeted sales of product A are 2,000 units. Opening inventory is 150 units and the company wants to reduce inventories at the end of the year by 10%, The budgeted number of units of product A to be produced is Select one: a.1,985. b.2,015 ©. 2,000 4.2135 Exam Chuyén tt. v Exam 3 >